Bank Of England
Bank Of England News
UK economy narrowly avoids recession but businesses still cautious
The International Monetary Fund forecast in January that Britain would be the only Group of Seven major advanced economy to shrink in 2023, in large part because of an inflation rate that remains above 10%
Bank of England hikes rates like Fed amid financial turmoil
Britain’s central bank boosted its key rate by a quarter-percentage point to 4.25% on Thursday, a day after the US Federal Reserve approved a similar move to tame inflation that is crimping household budgets and slowing economic growth
UK central bank may hike rates after big jump in food prices
The unexpected jump in prices in the United Kingdom refocused attention on stubbornly high inflation that is pummeling consumers and slowing economic growth. Investors are now betting the central bank will raise its key rate by a quarter of a percentage point, to 4.25 per cent
UK launches multi-billion pound package to coax people back to work
A depleted pool of workers, the result of a combination of factors including a rise in early retirement, long-term illness and migration trends, means Britain's post-COVID labour market recovery is trailing that of international peers.
Why HSBC is paying £1 for the UK arm of failed US bank SVB
The sale, overseen by the Bank of England and the Treasury, comes after SVB collapsed Friday sparking panic in Britain over its key customers in the technology and life science sectors
US, UK governments try to stem fallout from Silicon Valley Bank collapse
The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon Valley Bank UK to HSBC, Europe's biggest bank, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits
UK narrowly avoided recession in 2022, fears loom for economy this year
Economists remain divided on whether the UK will enter or avoid an economic downturn this year, but the Bank of England expects the country to enter recession but much shorter and shallower than previously feared.
Bank of England poised for big interest rate hike to tame inflation
Inflation soared after Russia’s invasion of Ukraine fuelled sharp increases in food and energy prices, leading to the U.K.’s biggest drop in living standards since the 1950s. That has triggered a wave of strikes — including the biggest day of industrial action in more than a decade on Wednesday
UK dismisses economic 'gloom', eyes Brexit boost
The Bank of England and the UK government's own fiscal watchdog, however, believe that the economy has already entered recession on fallout from rampant consumer price inflation
Bank of England makes biggest interest rate hike in 30 years
The central bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September. The aggressive move was expected after a more cautious half-point hike six weeks ago
Rishi Sunak waiting in the wings as Liz Truss makes a mess of Brexit-hit British economy
Britain is staring at bankruptcy, teetering between high inflation and default and being compared to vulnerable emerging economies
Rishi remorse as Britain faces economic turmoil?
The UK is facing an economic crisis that will also have serious political consequences, potentially leading to public disorder
UK enters recession, central bank admits
Bank of England’s Monetary Policy Committee released minutes of its meetings, which most recently included a warning about the UK economy entering or possibly even already being in a recession. Read more.
Bank of England to buy UK government bonds to avert financial risk
The move came after the International Monetary Fund issued a rare warning to a major world economy, urging Britain’s new government to “reevaluate” sweeping new tax cuts that may fuel inflation and are likely to increase economic inequality
Is the UK in recession? How central banks decide and why it's so hard to call it out?
On September 22, five out of the nine members of the Bank of England's Monetary Policy Committee (MPC) voted to increase the base rate by 0.5% to 2.25%. This is the rate banks and lenders pay, which in turn influences the interest rates people pay for mortgages and savings products
UK inflation surges to new 40-year high of 10.1% in July on soaring food, energy price
The Bank of England warned earlier this month that UK inflation would climb to just above 13 per cent this year, which would be the highest level since 1980
Narendra Modi and Indian economy: What do the hard facts on repo rate, credit policy, inflation, EMIs say
Prime Minister Narendra Modi's government has judiciously combined both welfarism and reforms at a time when the global financial order is seeing cataclysmic changes
Bank of England expects economy to enter year-long recession by 2022 end
UK gross domestic product dropped 0.1 per cent in the April-June period after a rise of 0.8 per cent in the first quarter, the Office for National Statistics said in a statement
UK manufacturing output, demand decline at the fastest rate since May 2020: Survey
Important indices like the S&P Global/CIPS UK Manufacturing Purchasing Managers' Index fell. According to a report, experts estimate that the Bank of England will raise interest rates by 50 basis points instead of 25 basis points on 4 August
Bank of England hikes interest rate from 0.10% to 0.25% to combat inflation
The BoE's monetary policy committee voted 8-1 in favour of the first interest rate hike in more than three years, but unanimously decided to maintain quantitative easing stimulus